Jun 18
One of the biggest buzz topics in insurance marketing right now is social networking, the practice of users sharing links, talking to one another and catching up via web-based tools available through personal computers, mobile phones and now tablet PCs like the iPad.
People can’t stop talking about it and its effect on how business is done. Some are saying it’s the new fact of insurance marketing and is here to stay; others dismiss it as a fad.
As much as it may seem to be the realm of teenagers, and despite how quickly social networking has exploded, the honest truth is that it is most certainly not going away. Social networking is becoming more and more ingrained in how people, young and old, live their lives.
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Tags: Insurance Marketing, Networking, Social Networking
Jun 18
State Auto Financial is an Ohio auto insurance and property/casualty insurance company and they saw a huge influx of claims throughout Ohio and the rest of the mid-west in May due to devastating storms. They expect a pre-tax loss of around $45 million to $50 million from the storms throughout May. Three specific catastrophes affected 23 of the states they operate in, including the massive tornado that hit Joplin, Missouri on May 22nd. Auto insurance claims as well as property claims from tornadoes, wind and hail poured in quickly in a very short period of time.
State Auto plans on having over 9000 claims on cars and homes filed throughout the coming months due to the storms. They confirmed previously that $75 million to $85 million in losses were experienced from April storms. Before 2011, State Auto’s historic 5 year average loss ratio for the 2ndQ is around $50 million of losses so they are feeling a huge impact from these storms. Bob R
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Tags: Auto Insurance, Claims, Ohio Auto, Ohio Auto Insurance
Jun 16
The Federal Emergency Management Agency (FEMA) wants Congress to encourage private insurance companies to provide coverage beyond the current limits for flood insurance. Since the limits for the National Flood Insurance Program haven’t been raised since 1994, FEMA hopes insurers will consider pushing the limit on their own.
FEMA is Encouraging Insurers to Push Limits Upward
FEMA chief, Craig Fugate, told the Senate Banking Committee on Thursday that he thinks the limits on flood insurance coverage should be adjusted upward, which would more accurately reflect the level of risk for floods assumed by the program.
However, he explained that doing so could have too great an impact on flood insurance policyholders who are accustomed to paying a certain amount. For
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Tags: Coverage
Jun 12
Do you have your inventory list made? It is important to make a list of your personal property in case of an unfortunate incident such as a fire or theft.
Tags: Personal Property, Property
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